Author: Bridget

Australia’s financial services sector has crossed an important threshold.

Australia’s passage of the Corporations Amendment (Digital Assets Framework) Bill 2025 marks a defining moment for the digital assets sector. After years of consultation, crypto has moved from the fringes of financial debate into a regulated part of the financial system, aligned with traditional markets and global peers.

Honner has taken a closer look at what this significant shift in the regulatory landscape means for financial services firms. In a series of articles, we explore the issue from three angles:

• Part 1 outlines what has actually changed with the legislation and why it matters
• Part 2 examines the communications implications for financial services firms
• Part 3 looks ahead to the next wave of debate including stablecoins, tokenisation and the role of digital assets in financial market infrastructure

Here in Part 2, we examine how the shift unlocks a significant and often underutilised opportunity for financial services firms, being proactive communication to position them as experts in their field and as drivers of change and innovation.

A new media cycle for the sector

Regulation is transforming crypto from a speculative story into a financial services story. As digital asset platforms and custody providers are brought under the Australian Financial Services Licence (AFSL) regime, they become part of a system that investors, advisers and regulators understand.

This shift creates a steady pipeline of media moments. Key milestones such as implementation timelines, licensing processes, product launches and early case studies will generate ongoing demand for expert commentary. The staged nature of the framework extends this window, creating opportunities for comment at every step of the way.
Importantly, the communications opportunity is no longer confined to crypto-native firms. Banks, custodians, asset managers, wealth firms serving HNWI and family office customers, ETF issuers, payment providers, wealth platforms and fintechs are increasingly being drawn into the digital assets conversation as tokenisation, stablecoins and blockchain-based infrastructure move closer to mainstream financial markets.

For firms in the sector, this presents a clear opportunity to build a consistent media voice. Spokespeople can provide perspective on what the reforms mean in practice, how business models are evolving and where challenges remain. Importantly, the narrative has shifted from “should crypto be regulated?” to “what does good regulation look like?” This provides a far more credible and constructive platform for engagement, particularly for international firms that can draw on their global experiences in other markets.

Trust as a communications differentiator

At its core, regulation is about trust. The new framework introduces licensing, disclosure and governance standards designed to protect consumers and improve transparency.
For communications teams, this creates a powerful narrative shift. Rather than focusing on innovation alone, firms can position themselves around compliance, operational maturity and long-term sustainability.

This is particularly relevant in a sector that has faced credibility challenges globally. Demonstrating alignment with regulation, and explaining what that means to the market, can differentiate firms in both media coverage and stakeholder engagement.

Regulation can be reframed from a constraint into a competitive advantage, a lesson well established in broader financial services communications. Firms that communicate clearly about how they meet new standards are better placed to build trust with investors, advisers and institutional partners.

The media lens on digital assets is also evolving rapidly. Historically, crypto coverage largely sat within technology and speculative trading reporting. Today, the discussion is increasingly moving into mainstream financial services, markets, payments and policy coverage. Wealth reporters are discussing ETF adoption, institutional journalists are exploring tokenisation and custody, while payments and regulatory reporters are examining the implications of stablecoins and digital financial infrastructure.
This changes both the tone of the conversation and the calibre of commentary expected from firms operating in the sector.

Thought leadership: shaping what comes next

Perhaps the most significant opportunity lies beyond the legislation itself. The current framework focuses primarily on regulating platforms and custody, which are the “rails” of the digital asset ecosystem.

This leaves a wide field of future policy debate open, and with it, a fertile ground for opinion pieces and genuine thought leadership.

Stablecoins are a prime example. Increasingly viewed as digital representations of money rather than speculative assets, they sit at the intersection of payments, banking and market infrastructure. Broader policy discussions are already considering how tokenised money could reshape payment systems and settlement processes.

This creates a clear opportunity for industry participants to lead the conversation.

Opinion pieces, contributed articles and policy submissions can explore questions such as:

• How should payment stablecoins be regulated differently from other digital assets?
• What role will tokenisation play in Australia’s capital markets?
• How can crypto payments reduce fees and improve efficiency?

From reactive to proactive communications

Ultimately, Australia’s digital asset regulation marks a transition point not just for the industry, but for how it communicates.
The opportunity is to move from reactive, event-driven commentary to proactive storytelling, using regulation as the foundation for a broader narrative about legitimacy, growth and innovation.
For financial services firms, the question is no longer whether regulation will define the sector, but who will define the conversation around it and drive the industry forward.

For digital assets businesses looking to build a clearer market identity, Honner can develop a tailored communications strategy playbook across messaging, thought leadership, media, events and leadership visibility – helping build recognition with the audiences that matter in Australia. To discuss, contact Jared Wright, Account Director at Honner jared@honner.com.au

Australia’s financial services sector has crossed an important threshold.

With Federal Parliament this month passing the Corporations Amendment (Digital Assets Framework) Bill 2025, digital assets have formally moved from a policy debate into a regulated part of the financial system.

This policy marks the pivotal point where digital assets begin to sit alongside traditional financial markets, as well as our global peers like Europe and the United States who have already advanced similar regulatory frameworks.

Honner has taken a closer look at what this significant shift in the regulatory landscape means for financial services firms. In a series of articles, we explore the issue from three angles:

• Part 1 outlines what has actually changed with the legislation and why it matters
• Part 2 examines the communications implications for financial services firms
• Part 3 looks ahead to the next wave of debate including stablecoins, tokenisation and the role of digital assets in financial market infrastructure

Five key takeaways

1. Australia has passed its first dedicated digital assets legislation – Federal Parliament has passed the Corporations Amendment (Digital Assets Framework) Bill 2025, marking the first time Australia has implemented a dedicated legislative framework for the digital assets sector.
2. Crypto exchanges and custody providers will require an AFSL – Digital asset platforms holding customer assets will be brought into the Australian Financial Services Licence (AFSL) regime, aligning them with existing financial market operators. This will come into effect from April 2027.
3. Institutional and adviser participation is expected to increase – Regulatory clarity, consumer protections and licensing are expected to unlock broader participation from banks, super funds, family offices and financial advisers.
4. A staged transition gives industry time to comply – The law will not take effect immediately, with clear transition periods built in to allow existing businesses to adjust before full enforcement begins.
5. The framework brings crypto alongside other asset classes – By embedding digital assets within Australia’s core financial services laws, regulators are supporting the sector to grow responsibly and sustainably, with a focus on consumer protection.

What this means for the digital assets industry in Australia

After years of consultation and debate, Federal Parliament has this month passed Australia’s first comprehensive legislation dedicated to digital assets, fundamentally reshaping how the sector is regulated.

Rather than focusing on banning or restricting digital assets, the framework integrates crypto platforms into Australia’s existing financial services system. Policymakers have deliberately targeted intermediaries, such as exchanges and custody providers, acknowledging that most consumer risk arises from how assets are held and managed, not from the underlying technology itself.

Why institutional investors and advisers have been waiting for this

One of the clearest industry shifts from the new regulation is its potential to unlock greater investment from institutional investors and financial advisers. Until now, many superannuation funds and licensed financial advisers have remained cautious to allocate capital due to regulatory ambiguity and uneven standards across crypto platforms.

By requiring digital asset platforms to hold an AFSL, the legislation introduces familiar safeguards: asset segregation, governance requirements, capital standards, disclosures and access to dispute resolution mechanisms. These are the same guardrails institutional investors and advisers rely on across traditional financial markets.

For financial advisers, the framework reduces legal and compliance risk when assessing platform exposure, custody arrangements and counterparty risk. This shift is already visible in the growing use of regulated structures such as crypto ETFs.

For institutions, it improves the ability to partner with, invest in, or build digital asset offerings using licensed, regulated infrastructure. Over time, this opens the door for digital assets to be considered within mainstream portfolios, including superannuation funds and asset consultants.

At the same time, policy settings such as Your Future, Your Super are pushing a more disciplined approach to portfolio construction across the super sector. The framework does not favour one asset class over another, but it does lift the level of scrutiny – meaning any exposure to newer areas such as digital assets needs to be backed by a clear case on member outcomes, risk and governance.

Over the next 12 months, crypto firms should closely monitor how financial advisers and institutional investors are engaging with crypto ahead of the new licensing frameworks and consider opportunities to debate how this narrative is playing out and what more can be done to support it.

What the transition period looks like for businesses

Importantly, the legislation has been designed to avoid market disruption. While Parliament has passed the Bill, its obligations do not apply immediately. The legislation will come into effect in April 2027, with a six-month transition period also provided for businesses to meet the requirements.

In recent months, ASIC has seen many businesses get ahead of the requirement by applying for an AFSL in advance to avoid the queues.

That early engagement suggests the industry is moving to adapt and taking steps to embrace digital assets as less of a fringe consideration and more of a mainstream regulatory and commercial consideration.

This regulatory announcement makes it clear that crypto is increasing its role and presence within the Australian financial services industry and that this is only the start of the journey.

For digital assets businesses looking to build a clearer market identity, Honner can develop a tailored communications strategy playbook across messaging, thought leadership, media, events and leadership visibility – helping build recognition with the audiences that matter in Australia. To discuss, contact Jared Wright, Account Director at Honner jared@honner.com.au

Key points

• Hedge funds are back in focus — but the real battle is not performance, it is clarity.
• As investors revisit the category, they are forming fast views — and only the clearest stories stick.
• In this cycle, communication is not support — it is a source of competitive advantage.

Hedge funds are back in the conversation.

After a long stretch in which private markets dominated attention, hedge funds are starting to attract serious attention again. The Financial Times has written about hedge funds “booming” as some investors cool on private equity. The Wall Street Journal has pointed to the end of a long “alpha winter”, as higher rates, greater volatility and wider dispersion bring the category back into focus. Reuters has also reported that the Iran war is exposing the frailty of the traditional 60/40 portfolio, reinforcing why investors are rethinking liquid alternatives and broader diversification. In Australia, the AFR has highlighted Bridgewater’s resurgence as another sign hedge funds are back on the radar.

For hedge fund managers, that matters. But attention alone is not a commercial advantage. What matters is whether the market quickly understands who you are, what you stand for and why your proposition is different.

For hedge fund managers, that matters. But attention alone is not a commercial advantage. What matters is whether the market quickly understands who you are, what you stand for and why your proposition is different.

Hedge funds are back – but attention is not enough

When allocators revisit a category, they form views quickly. A small number of firms become the names people mention first. Many others remain vague in the market. In most cases, that gap is not about investment capability. It is about clarity. The managers who stand out are usually the ones whose story is easiest to understand, easiest to remember and easiest to repeat.

That is why the real battle in this part of the cycle is not simply visibility. It is brand clarity.

bfinance, the global investment consultancy that advises institutional investors on manager selection, portfolio construction and asset allocation, has described this as a rare moment when two forces are helping hedge funds at once. Stronger recent performance is drawing investors back to the category, while growing doubts about traditional diversification – and the burden of large illiquid allocations – are leading many to revisit liquid alternatives.

Recent geopolitical developments, including the Iran crisis, have only reinforced that shift. Periods like this tend to expose where diversification does not behave as expected and where illiquidity can become a constraint. In that environment, hedge funds are being reconsidered as a source of liquidity, flexibility and differentiated returns. But when attention returns quickly, competition for mindshare increases just as quickly. The managers with the clearest and most credible story are the ones most likely to benefit.

Where many hedge funds struggle

That creates an opening. It also creates a risk. If your proposition is hard to grasp, or your differentiation is buried under technical language, the moment can pass just as quickly as it arrived.

One of the most common communications mistakes hedge fund managers make is leading with internal terminology rather than what actually matters to the outside market. Strategy labels may be accurate, but they rarely answer the first question the audience is asking: why this manager, and why now?

Markets do not reward complexity for its own sake. They reward clarity that holds up when the story is retold in an investment committee paper, a consultant note, a short internal email or a conversation weeks later when someone is deciding who to meet. If your proposition depends on being perfectly explained by the right person in the room, it is too fragile.

The firms that tend to strengthen their profile in moments like this usually do a few things well. They explain their proposition in plain English. They make their strengths easy to remember without overselling. And they show up consistently enough that the market starts to recognise them, rather than repeatedly rediscover them.

The real opportunity: clarity as a competitive advantage

That is the communications opportunity for hedge funds in 2026. As the category returns to favour, the firms that build the clearest external identity will be best placed to convert renewed attention into stronger recognition, stronger recall and more meaningful commercial momentum.

At Honner, we help hedge fund managers sharpen how they show up to the market so their proposition is clearer, their differentiation is more memorable and their profile builds with the audiences that matter.

For hedge fund managers looking to build a clearer market identity, Honner can develop a tailored communications strategy playbook across messaging, thought leadership, media, events and leadership visibility – helping build recognition with the audiences that matter in Australia. To discuss, contact Craig Morris, Partner at Honner craig@honner.com.au

Craig Morris is a Partner at Honner, working with investment firms, asset managers and financial services businesses to sharpen positioning, build profile and communicate with greater clarity.

Australia’s financial media is in a state of dynamic transformation, with shifting editorial priorities, changes in ownership, and high-profile talent moves reshaping the way stories are told. Wealth coverage is expanding, specialist newsletters are multiplying, and high-profile moves are redrawing the map of influence.

At Honner, we monitor these shifts closely to ensure clients remain connected to the right journalists, outlets and opportunities as the landscape develops.

Financial media Industry highlights

• The Australian has unveiled a new dedicated wealth section, putting a spotlight on personal finance, superannuation, investment strategies, and the big economic forces shaping Australians’ prosperity. Former senior business reporter Megan Neil has stepped into the team in a hybrid reporter/producer role, bringing depth and versatility. She joins a strong line-up of voices including Julian-Ann Sprague, James Kirby, James Gerrard, Roger Montgomery, and Anthony Keane, ensuring the section launches with both authority and personality.
• Capital Brief has launched its fifth specialist newsletter, The Signal, examining where media, politics, policy, power, and technology collide. Recent editions have tracked how tech platforms shape political messaging, the push to regulate artificial intelligence, and the growing sway of digital networks over elections and public opinion.
• Private Media has acquired Pinstripe Media. The publisher of Crikey, SmartCompany and The Mandarin now owns David Koch’s Pinstripe Media, parent of Startup Daily, Flying Solo, Business Builders and Your Money & Your Life. The deal brings Pinstripe’s video and creative production into Private Media’s stable, while each brand retains its identity and editorial voice. Koch will step back from daily management but remain as a strategic adviser and commentator. Ausbiz TV, Koch’s separate streaming platform, sits outside the deal – though crossover in talent and content will continue.
• Another big move is Prime Creative Media’s acquisition of Momentum Media’s suite of wealth titles — Money Management, InvestorDaily, IFA, SMSF Adviser and Super Review — along with their awards and event franchises. Announced on 1 October, the deal gives Prime a strong foothold in Australia’s $6.6 trillion wealth sector, while Momentum redirects resources to other markets.

Key movements across mainstream media

The Australian Financial Review continues to invest in deep financial reporting, with recent newsroom changes balancing continuity and fresh perspective. Lucy Slade has joined the property team, while Andrew Tillett is set to take over as European Correspondent in London from Hans van Leeuwen — a key role covering macro-political and financial trends impacting global markets. Angira Bharadwaj, previously National Correspondent at News Corp Australia, has stepped in as Banking and Financial Services Reporter, bolstering the AFR’s institutional coverage.

There’s also a clear pipeline of emerging talent in financial media. Graduate journalists Luke Kinsella and Isabella Freeland have joined the markets and wealth teams, respectively, signalling a long-term investment in specialist beats. Bloomberg is following a similar model, adding Nasteho Said as a graduate journalist on markets – part of a broader industry trend toward rebuilding talent from the ground up as experienced journalists shift into strategy roles.

Key movements across trade media

New appointments:

• Shy-Ann Arkinstall has moved from a Journalist at IFA to a Journalist at Money Management.
• Riddhima Talwani has joined as a Journalist at Financial Standard, moving from ausbiz.
• Angelique Minas has joined Financial Standard as a Graduate Journalist.
• Olivia Grace-Curran has joined InvestorDaily as a Senior Wealth Journalist, she was previously at ausbiz.
• Georgie Preston has joined InvestorDaily as a Graduate Journalist.
• Alex Driscoll has joined IFA as a Graduate Journalist.
• Investment consultant and the former long-time CEO of Lazard Asset Management, Asia Pacific, Rob Prugue has started writing a weekly column for The Inside Network publications with a focus on global markets, investment strategy, and the macro forces shaping opportunities for advisers and investors.
• Scott Murdoch has been appointed Lead Writer, Asia Finance & Markets at Reuters, based in Sydney.
• Jack Derwin has taken over the Capital Gains newsletter at Capital Brief, reporting on banking, finance and fintech.

Departures and role changes:

• Andrew McKean has finished up at Financial Standard and relocated overseas.
• Miranda Brownlee has departed from InvestorDaily and Momentum Media.

Podcasts gain traction as premium content channel

Podcasts now reach nearly 7 million Australians weekly, cementing their role as a trusted and flexible channel for investors, professionals and advisers seeking content on the go. Financial podcasts in particular are evolving rapidly with many outlets moving toward branded segments, gated content, and sponsorship-led models that blur the line between journalism and commercial messaging.

As production values rise and media companies seek monetisation, access is increasingly becoming pay-to-play. This makes strategic selection of podcast opportunities more important than ever. At Honner, we actively monitor podcast programming across Australia’s business, wealth and fintech sectors maintaining a curated list of credible, high-impact shows and hosts. This resource helps clients navigate where and how to engage, and ensures alignment with the right audiences, messages and moments.

Related reading: 

• Podcast Boom: A Financial Services Guide to Capitalising on the Explosive Audio Landscape

Please note, the above information is of Oct 2 2025